NEWS

Trans Power to strengthen its fleet this year

A tug owned by Trans Power Marine is towing a coal barge. /transpowermarine.com

PT Trans Power Marine Tbk. (TPMA) targets revenue and net profit growth of up to 20% throughout 2024.

Trans Power Marine Corporate Secretary Rudy Sutiono said TPMA targets revenue and net profit to increase by around 10% to 20% throughout 2024. The target will be supported by the addition of several new fleets.

“The revenue and profit target increases by around 10-20%,” he told Bisnis, Saturday (1/13/2024).

In order to achieve this target, TPMA plans to add at least six new vessels, namely 2 tug boats and 4 barges measuring 330 feeds and 1 crane barge. However, Rudy has not been able to specify the capital expenditure that will be incurred to fund the purchase of new ships.

Meanwhile, as of September 2023, commodities fluctuate. TPMA posted revenue of USD 48.03 million or around IDR 743.87 billion (estimated exchange rate of IDR 15,487 per US dollar) as of September 2023, The operating revenue increased 5.27% compared to USD 45.62 million as of September 2022.

All of TPMA’s revenue comes from freight services. The details are tugboats and barges of USD 35.13 million and floating cranes of USD 12.89 million.

In the midst of revenue growth, TPMA also recorded profit growth. TPMA’s net profit reached USD 13.15 million or around IDR 203.71 billion as of September 2023, up 37.14% from USD 9.59 million in September 2022.

Rudy Sutiono said that in the midst of fluctuations in coal prices, the company could still improve performance in the bulk goods transportation industry. TPMA’s business is less affected by coal prices, as customers calculate based on their freight volumes.

Meanwhile, TPMA recorded total assets of USD 113.44 million per quarter III/2023, up from USD 107.38 million at the end of 2022. In detail, total equity of USD 91.11 million increased from the previous USD 88.83 million, and liabilities also rose to USD 22.33 million from USD 18.55 million previously.

Image source >>> transpowermarine.com

Source >>> Trans Power Marine (TPMA) Aims for Revenue to Increase 20% by 2024 (bisnis.com)